Estate tax; reinstated for persons dying on or after July 1, 2012. (HB419)

Introduced By

Del. Vivian Watts (D-Annandale)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Estate tax reinstated.  Reinstates the estate tax for persons dying on or after July 1, 2012. No estate tax will be imposed on a gross estate if the majority of the assets of the estate is an interest in a closely held business or a working farm. The revenues from the estate tax would first be used for funding staffing standards in nursing homes required to be established under the bill, which staffing standards would require a minimum period of time of direct care services to each resident per 24-hour period. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/10/2012Committee
01/10/2012Prefiled and ordered printed; offered 01/11/12 12101398D
01/10/2012Referred to Committee on Finance
01/20/2012Assigned Finance sub: #2
01/21/2012Impact statement from TAX (HB419)
01/25/2012Subcommittee recommends laying on the table
02/14/2012Left in Finance